Singapore will begin auctioning more than 80 luxury properties and over 1,000 luxury goods starting in September 2026. These assets were seized in the country’s largest money laundering case, valued at S$3 billion (US$2.4 billion), involving criminals from southern Fujian province arrested in islandwide raids in August 2023 [1, 2, 3, 4].
More than 200 properties were seized overall, including ultra-luxury condominiums and landed houses in prime locations such as Orchard Road, Sentosa, and Districts 9, 10, and 11 [1, 2, 5]. The auctions will focus on properties that are fully paid off or without outstanding mortgages, as those encumbered have mostly been sold already by banks [1, 5]. An anonymous senior real estate executive said, "The auctioned condominium units are mostly ultra-luxury units in the core central areas, with prices starting from S$2 million to S$3 million, and the units are generally larger in size." The same executive noted the mortgage situation, saying, "Properties with mortgages have mostly been sold by banks previously; this auction mainly involves fully paid or no-mortgage units." [5]
The auction will take place in phases from September 2026 until mid-2027. The first property auction is planned for September 17, 2026, hosted by Knight Frank, followed by auctions held by SRI and Edmund Tie & Company [5]. Deloitte, appointed by the Police in July 2025 to manage the seized non-cash assets, will oversee realization efforts along with other partners including Hotlotz for luxury goods and List International Realty for some high-end properties [3, 6, 4].
Luxury goods for auction include over 1,000 items such as handbags from Chanel, Louis Vuitton, Dior, and Hermes; jewelry by Graff, Bulgari, and Van Cleef & Arpels; and watches from Patek Philippe, Richard Mille, and Rolex [3, 6, 4]. The first two online auctions for luxury handbags and jewelry will begin on September 7 and close on September 20 and 27, respectively, with Hotlotz holding 15 online auctions through May 2027 [3, 6, 7, 8, 9, 10]. Physical viewings of the luxury goods will be available by appointment at Le Freeport, a high-security vault in Changi, Singapore [6, 7].
Some seized Sentosa sea-facing landed properties have been sold privately at steep discounts; one was sold for about S$22 million, nearly half its original price [1, 2, 11]. Deloitte’s Justin Lim noted, "Apart from auctions, certain assets may also be realised through alternative sale methods such as limited tender, expression of interest or direct selling." The proceeds from sales will generally be transferred to Singapore’s Consolidated Fund after deducting asset management and maintenance costs [6, 4].
The overall government cost managing these seized assets since 2023 has reached S$526,000 [4]. The auctions will mark a significant phase in disposing of assets linked to the 2023 money laundering bust, with property and luxury goods sales continuing through mid-2027.
